Thinking of starting a business selling your own products? There are a lot of benefits that come with being an FBA (Fulfilment By Amazon) seller. You have a huge potential for sales and the chance to earn a lot of repeated business with little marketing effort on your part. Plus, you never need to deal with the hassle of packing and shipping your own orders.
A lot of hopeful entrepreneurs all over the world have tested their luck as FBA sellers. Marketplace Pulse reported that in 2019, there were more than 2.5 million active sellers in Amazon’s marketplace.
As a new FBA seller, you may be disheartened by this number. How am I supposed to compete with all of those established entrepreneurs?
With the right mindset and tactics in place, you can easily get ahead of your competition. There are some common mistakes you should avoid as you are building your presence in Amazon’s marketplace.
Here, we’ll cover 4 mistakes you must avoid making if you want to experience long-term success as an FBA seller.
1) Not Seeking the Reimbursements You Deserve
Mistakes happen. Amazon may be responsible for breaking or dropping an item during shipment. While these mishaps will inevitably happen, you shouldn’t allow them to go unchecked. To be a successful FBA seller, you should actively seek out refunds for any of your products that get lost or damaged on their way to your customers’ homes. Even if you sell mass-produced, inexpensive items, continuously failing to seek reimbursements can hurt your bottom line.
Some sellers avoid obtaining reimbursements. They believe the task to be confusing and not worth their time. There are actually a few ways to automate the process, one of which is outlined in this Helium 10 Coupon Code and Review article. No matter how you go about it, make sure you have a plan in place for how to get your money back for misplaced or damaged items.
2) Failing to Complete All of Your Product Descriptions
As a new seller, you may be on top of the game when it comes to filling out your product descriptions. However, as you add more products and grow your presence on Amazon, you may neglect to add relevant information to new products.
Your potential customers want to know what they’re buying without having to get in touch with you to get their questions answered. Highlight all of your product’s features and details. Never leave any of your product descriptions incomplete. A lazily-put-together description may cause a confused customer to purchase a similar item from a different seller. Don’t miss out on sales by perplexing your customers or leaving them wanting more.
3) Failing to Educate Yourself
A lot of sellers enter Amazon’s marketplace under the impression that they will make a quick buck. While this gig can be profitable, you need to go about it strategically.
You’ll need to set aside time to educate yourself on Amazon’s restrictions, categories, and fees. To make your venture as profitable as possible, you’ll also need to focus your efforts on a lucrative niche rather than trying to appeal to every single buyer on Amazon.
4) Not Hiring Others to Help You
Being an FBA seller is tiring work. You may find yourself waking up early, working late, and skipping lunch to pull in the same amount of money you would at a regular 9-to-5 position. Maintaining a consistent level of sales and profits can take its toll if you don’t approach it correctly. Evaluate the nature of your business and determine if there is any work you can efficiently outsource. Some common tasks that FBA sellers outsource include RA sourcing, product repricing, and feedback management. Determine the amount of work you can handle and what you can pay someone else to do.
While being an FBA seller can certainly become a full-time and lucrative gig, you need to approach it with caution. Avoid making these mistakes, and you’ll establish yourself as a reputable and profitable seller!